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Novatek buys Chernichnoye field

Written by  AOG Staff Wednesday, 13 December 2017 06:50
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Russian company Novatek said the agreement to acquire Chernichnoye from Mangazeya JSC is expected to close early 2018.

Chernichnoye holds the hydrocarbon exploration and production license for the Chernichnoye field located in close proximity to Novatek’s infrastructure.

The license contains estimated hydrocarbon resources of 179 MMboe.

“We concluded an agreement to acquire another field which will contribute to the company’s resource base and future production connected to the Unified Gas Supply System,’ said Novatek chairman Leonid Mikhelson.

“Our strategy is focused on acquiring new producing fields to load our processing capacities for a longer time period as well as fully utilize our existing transport infrastructure. This will provide additional economic value and growth of the Company’s financial and operational metrics.”

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